White House: Summers Exit Not Until End of Year

WASHINGTON — The White House says President Barack Obama has asked one of his key economic advisers, Lawrence Summers, to remain at his post until the end of the year.

The White House has said Obama is not likely to name a replacement for Summers as director of the National Economic Council until January.

Though Summers planned to leave by the end of December, his imminent departure has raised speculation about when he would exit and who would step into his place.

The White House said Wednesday that Summers has agreed to serve through Dec. 31.

Investment banker Roger Altman, Yale University President Richard Levin and top Treasury Department official Gene Sperling are being considered as replacements.